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Redding, California - July 8, 2024

Africa IVD Market to be Worth $1.65 Billion by 2031

Africa IVD Market Size, Share, Forecast, & Trends Analysis by Offering, Technology (Immunoassay, PoC, Molecular Diagnostics, Coagulation) Application (Infectious Diseases, Diabetes, Oncology) Diagnostic Approach (Lab, OTC, PoCT) End User- Forecast to 2031

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Africa IVD Market Size, Share, Forecast, & Trends Analysis by Offering, Technology (Immunoassay, PoC, Molecular Diagnostics, Coagulation) Application (Infectious Diseases, Diabetes, Oncology) Diagnostic Approach (Lab, OTC, PoCT) End User- Forecast to 2031.’

According to this latest publication from Meticulous Research®, the Africa IVD Market is projected to reach $1.65 billion by 2031, at a CAGR of 3.1% during the forecast period 2024–2031. The growth of this market is driven by the rising prevalence of chronic & infectious diseases, IVD market players’ increasing investments in Africa, the growing demand for Point-of-care (POC) & rapid diagnostics, the rising geriatric population, government initiatives supporting Africa's healthcare sector, rising healthcare expenditure, and increasing R&D expenditure. However, the high prices of advanced IVD products, result variations observed in rapid IVD tests, and stringent technical requirements & regulatory processes for high/moderate-complexity tests restrain the growth of this market.

Furthermore, increasing awareness regarding the importance of early diagnosis, advances in genomics & proteomics, and the increasing adoption of personalized medicine are expected to generate growth opportunities for market stakeholders. However, uneven access to healthcare and the shortage of trained healthcare professionals are major challenges in the Africa IVD market.

Key Players

The key players operating in Africa IVD Market are Abbott Laboratories (U.S.), Becton, Dickinson and Company (U.S.), bioMérieux SA (France), Danaher Corporation (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), QIAGEN N.V. (Netherlands), Siemens Healthineers AG (Germany), Thermo Fisher Scientific Inc. (U.S.), Bio-Rad Laboratories, Inc., (U.S.), Illumina, Inc. (U.S.), and Shenzhen Mindray Bio-Medical Electronics Co., Ltd (China).

Africa IVD Market: Future Outlook

The Africa IVD Market is segmented on the basis of Offering (Reagents & Kits, Instruments, and Software & Services), Technology (Immunoassay/Immunochemistry, Whole Blood Glucose Monitoring, Molecular Diagnostics, Point-of-care Diagnostics, Biochemistry/Clinical Chemistry, Microbiology, Hematology, Coagulation & Hemostasis, and Other IVD Technologies), Application (Infectious Diseases, Diabetes, Oncology, Cardiology, Nephrology, Autoimmune Diseases, and Other Applications), Diagnostic Approach (Laboratory Testing, Point-Of-Care Testing, and OTC/Self-Testing), End User (Diagnostic Laboratories, Hospitals & Clinics, Home Healthcare, and Other End Users), and Geography. The study also evaluates industry competitors and analyzes the market at regional and country levels.

Based on offering, the Africa IVD Market is segmented into reagents & kits, instruments, and software & services. The kits & reagents segment is expected to register the highest CAGR of 3.3% during the forecast period of 2024 to 2031. This growth of the segment is attributed to the emerging threats of infectious diseases such as malaria, tuberculosis, and other neglected tropical diseases, increasing test volumes for infectious diseases, and favorable initiatives to improve diagnosis, treatment, and healthcare access.

Based on technology, the Africa IVD market is segmented into immunoassay/immunochemistry, whole blood glucose monitoring, molecular diagnostics, point-of-care diagnostics, biochemistry/clinical chemistry, microbiology, hematology, coagulation & hemostasis, and other IVD technologies. In 2024, the immunoassay/immunochemistry segment is expected to account for the largest share of 34.5% of the Africa IVD market. The segment’s large share is attributed to the benefits of immunoassay technologies, such as efficient, convenient, and accurate research tools for the detection and quantitation of targets, continuous development of new biomarkers, and cost-effectiveness, coupled with the growing adoption of automated platforms for ELISA.

The demand for immunoassay technology remains high in Africa as it is the preferred diagnostic platform for HIV, malaria, dengue, and other highly prevalent diseases in the region. Africa holds a disproportionately large share of the global malaria burden; the region accounted for 95% of malaria cases and 96% of malaria deaths in 2020. Children under the age of five accounted for nearly 80% of all malaria deaths in the region. (Source: WHO December 2023 report). Furthermore, according to the WHO, Africa accounts for 94% of malaria cases (233 million) and 95% (580,000) of malaria deaths globally.

Based on application, the Africa IVD market is segmented into infectious diseases, diabetes, oncology, cardiology, nephrology, autoimmune diseases, and other applications. In 2024, the infectious diseases segment is expected to account for the largest share of the Africa IVD market. This segment’s large market share can be attributed to the high prevalence of infectious diseases like COVID-19, dengue, and HIV in the region, increasing awareness about diagnostic testing, and the growing availability of low-cost rapid test kits.

Based on diagnostic approach, the Africa IVD market is categorized into laboratory testing, point-of-care testing, and OTC/self-testing. The point-of-care testing segment is expected to register the highest CAGR during the forecast period of 2024 to 2031.

Based on end user, the Africa in vitro diagnostics market is segmented into diagnostic laboratories, hospitals & clinics, home healthcare, and other end users, which include nursing homes, academic & research institutes, ambulatory care centers, and transfusion laboratories. The hospitals & clinics segment is expected to grow at the highest CAGR during the forecast period of 2024 to 20231. This growth can be attributed to the increasing hospitalizations due to chronic diseases, increasing healthcare expenditure, the willingness of hospitals to opt for advanced diagnostic instruments & tests, the preference for low-cost products to control healthcare costs, and the increasing number of hospitals in the region.

Geographic Review

This research report analyzes major geographies and provides a comprehensive analysis of South Africa, Nigeria, Egypt, Algeria, Nigeria, Morocco, Kenya, Tunisia, Côte d’Ivoire, Tanzania, Cameroon, and the Rest of Africa. South Africa is expected to grow at the highest CAGR of 8.3% during the forecast period (2024-2031). This growth can be attributed to growing healthcare expenditure, growing availability due to partnerships & collaborations between diagnostic test providers & distributors, favorable government initiatives, and growing healthcare infrastructure & access in South Africa.

Download Sample Report Here @ https://www.meticulousresearch.com/download-sample-report/cp_id=5415

Key questions answered in the report-

What is the current value of revenue generated by IVD products in Africa?
At what rate is the demand for IVD products in Africa projected to grow for the next 5-7 years?
What is the historical market size and growth rate for Africa IVD market across the globe?
What are the major factors impacting the growth of this market? What are the major opportunities for existing market players and new entrants in the market?
Which segments are creating major traction for the vendors in this market in terms of offering, technology, application, diagnostic approach, and end user?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the Africa IVD Market?
Who are the major players in the Africa IVD Market? And what are their specific products offered in the Africa IVD industry?
What recent developments have taken place in the Africa IVD Market, and how these strategic developments are creating an impact in this market?

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Redding, California - July 8, 2024

Africa IVD Market to be Worth $1.65 Billion by 2031

Africa IVD Market Size, Share, Forecast, & Trends Analysis by Offering, Technology (Immunoassay, PoC, Molecular Diagnostics, Coagulation) Application (Infectious Diseases, Diabetes, Oncology) Diagnostic Approach (Lab, OTC, PoCT) End User- Forecast to 2031

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